Investors focused on the Retail-Wholesale space have likely heard of Shoe Carnival (SCVL), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Shoe Carnival is one of 218 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SCVL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SCVL's full-year earnings has moved 13.62% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SCVL has returned about 8.45% since the start of the calendar year. At the same time, Retail-Wholesale stocks have gained an average of 10.60%. This means that Shoe Carnival is outperforming the sector as a whole this year.
To break things down more, SCVL belongs to the Retail - Apparel and Shoes industry, a group that includes 42 individual companies and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 7.97% so far this year, meaning that SCVL is performing better in terms of year-to-date returns.
Going forward, investors interested in Retail-Wholesale stocks should continue to pay close attention to SCVL as it looks to continue its solid performance.